Past year: ▼ 62%(2.10c – 5.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Nov 2019asset acquisition disposition● NeutralMajor
The board decided not to use its option to buy the partner's 49.99% of Greenvale Gold Basin, despite the new resource. Greenvale stays at 50.01% and will keep funding alongside partners. This closes the buyout thread.
11 Nov 2019listing compliance notice● Neutral
ASX again queried cash: $117,000 at quarter end against a $90,000 expected outflow. Greenvale says it plans a rights issue of about $1.2M, with directors supporting about $450,000, and may also use its placement capacity. It says it complies with disclosure rules.
22 Oct 2019resource reserve update▲ GoodMajor
Gold Basin maiden JORC Inferred Resource: 299,800 oz at 1.12 g/t (0.5 g/t cut-off), or 360,900 oz at 0.84 g/t (0.25 cut-off), at Cyclopic and Stealth. It is shallow (0-50m) and open in all directions. This resolves the long-delayed resource.
18 Oct 2019other● Neutral
ASX paused trading in Greenvale shares pending a further announcement. No reason is given in the notice.
25 Sept 2019admin correction● Neutral
Greenvale corrects its annual report, which left out one substantial shareholder. Font SF Pty Ltd holds 5,643,185 shares, notified December 2018. Total shares are about 93.36M. Administrative only.
20 Sept 2019annual report● Neutral
2019 annual report. The chairman says SRK's Alpha result (best 15.4 MMbbl) is not likely a 'company maker', and Greenvale will seek to cut Alpha's spending commitments. Gold Basin resource is nearly done, and a capital raising is proposed.
20 Sept 2019annual report● Neutral
Appendix 4G for the year to 30 June 2019, lodged with the annual report. It points to the corporate governance statement on pages 15-28 of the annual report. No new business information.
13 Sept 2019resource reserve update● Neutral
Gold Basin's maiden JORC resource is almost complete and expected within two weeks, covering the Cyclopic, Stealth and PLM deposits with recent and historical drilling. The date has slipped from the end of June. No resource figures yet.
9 Aug 2019listing compliance notice▼ BadMajor
ASX queried cash of $360,000 against a $282,000 expected outflow next quarter. Greenvale replied it expects continued negative cash flow, has appointed lawyers for a prospectus capital raising, and says directors and large holders will support it. No raise size is given.
17 June 2019drilling result▲ GoodMajor
Gold Basin drilling (33 holes, about 2,500m) hit gold in 9 of 10 holes along the Cyclopic fault, including 12.2m at 1.47 g/t and 19.8m at 0.90 g/t. A maiden JORC resource is expected at end of June.
29 May 2019director officer appointment▲ Good
Steve Gemell was appointed a non-executive director from 1 June 2019. He has more than 40 years' mining experience, including work on gold projects in Arizona, and the company said the appointment strengthens its technical expertise.
29 Apr 2019resource reserve update▲ GoodMajor
SRK estimates recoverable oil from Alpha's lower seam at 9.2 to 21.6 million barrels, best estimate 15.4 million, under a proposed well plan. This builds on the earlier 33.4 million barrel in-situ prospective resource. The next step is a contingent resource study.
1 Apr 2019drilling progress report● Neutral
Gold Basin drilling began mid-March, with about 900m of a planned 2,400m done in 11 vertical RC holes. Altered rock and quartz veining are reported at the target fault zone. No assays yet; results to be reported later.
12 Mar 2019half year report● Neutral
Half-year to 31 December 2018: loss of $215,152 including a $53,125 impairment of the relinquished Madre licences. Net assets fell to $1,993,187 from $2,208,339 at June 2018. Gold Basin completion is noted as a subsequent event.
18 Feb 2019asset acquisition disposition▲ GoodMajor
Greenvale completed its Gold Basin investment, with its subsidiary paying $550,000 for 50.1% of Greenvale Gold Basin Pty Ltd, up from the 25.01% initially proposed. It can buy out partner NEM's stake after a maiden JORC resource, and drilling was due to start imminently.
31 Dec 2018joint venture update● Neutral
SRK is still assessing radio-frequency heating to extract Alpha oil in place, which may avoid mining. The Gold Basin deal is not final: the initial stake is still unsettled between 50.01% and 100%, up from the 25.01% first announced.
24 Sept 2018asset acquisition disposition▲ GoodMajor
Conditional heads of agreement to earn an initial 25.01% of the Gold Basin gold project in Arizona by investing A$550,000, funding a 3,000m drilling program to reach a first JORC resource. Option to reach 100%; subject to due diligence. Moves GRV beyond oil shale.
18 Sept 2018annual report● Neutral
2018 annual report: SRK's Prospective Resource for Alpha is 25.1 to 50.2 million barrels, midpoint 33.4 million. The chairman says Ghana and Egypt were dropped and a Nevada gold project is being pursued. Povey resigned after year end.
18 Sept 2018other● Neutral
Appendix 4G corporate governance checklist lodged with the 2018 annual report, pointing to pages 10-23. Administrative filing with no substantive news.
17 Sept 2018other● NeutralMajor
Greenvale appointed SRK Consulting to advance the Alpha oil shale project using radio frequency and microwave extraction, and relinquished EPM 25795 to focus on MDL 330. It also began reviewing a gold project in Nevada, USA, and dropped the Egypt opportunity.
7 Aug 2018director officer appointment● Neutral
Non-executive director Michael Povey (the board's technical director) resigned effective 6 August 2018. The board will review its composition and update the market on any replacement.
27 Apr 2018resource reserve update● NeutralMajor
SRK's independent report on Alpha gives a Prospective Resource (unrisked) for in-situ shale oil, in broad agreement with earlier estimates; volumes are not given in this text. The company may relinquish the Madre EPMs and is reviewing gold projects in Egypt and Ghana.
8 Mar 2018half year report● Neutral
Half-year to 31 December 2017: loss of $212,742 (prior $265,967), net assets $2,421,538 (June 2017: $2,634,280). SRK's Alpha work is expected to finish late March 2018; overseas precious metals joint venture talks remain incomplete. Cash is held in term deposits.
22 Sept 2017other● Neutral
Appendix 4G corporate governance checklist lodged with the 2017 annual report, pointing to pages 11-23. Administrative filing with no substantive news.
22 Sept 2017annual report● Neutral
2017 annual report: the chairman says low oil prices hurt Alpha's viability, so the bitumen angle gives an alternative use. A near-complete acquisition of a non-energy project was terminated over regulatory costs. Infill drilling planned for later in 2017.
29 June 2017resource reserve update▲ GoodMajor
Review of old test work suggests Alpha shale suits a bitumen-led product mix (about 59% bitumen, 40% fuels), with spent shale possibly sold as activated carbon. A new scoping study and infill drilling are planned to move from Exploration Target towards a JORC resource. No resource is stated.
4 Apr 2017admin correction● Neutral
Registered office moves to Suite 6, Level 5, 189 Kent Street, Sydney. Administrative notice with no effect on operations.
17 Mar 2017regulatory community update▲ GoodMajor
Queensland confirms renewal of the Alpha mineral development licence for five years from 1 February 2017, resolving the pending renewal. (The release text says 'MDL 300' and '2016', apparently typos for MDL 330 and 2017.)
14 Mar 2017half year report● Neutral
Half-year to 31 December 2016: loss of $265,967 (prior $371,989), including the $50,000 exclusivity fee. That deal did not proceed because it would have required re-listing under ASX rules, which the board judged against shareholders' interests. Net assets $2.885M.
9 Jan 2017resource reserve update● NeutralMajor
Alpha has insufficient data for a JORC 2012 resource, so it is classed only as an Exploration Target. The board decides to define and, if feasible, develop it, starting with a new survey and scoping study. Renewal of the licence for five years is sought.
